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In October 2018, MCE made a $1,500,000 debt investment in Baobab Nigeria, a for-profit institution that provides simple financial services to micro, small, and medium-sized enterprises (MSMEs) to facilitate their growth and expansion. Baobab Nigeria is a subsidiary of Baobab Group (formerly Microcred Group), a digital financial inclusion network founded in 2005.
Baobab Nigeria began operations in 2009 with its first loan in Kaduna...